Other Labor Income in South Carolina
SCOOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34,585.00
Year-over-Year Change
23.36%
Date Range
1/1/1948 - 1/1/2025
Summary
The 'Other Labor Income in South Carolina' trend measures supplementary income sources for workers in the state, beyond their base wages or salaries. This provides valuable insight into the overall economic well-being of South Carolina's labor force.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This metric tracks additional compensation like employer-provided benefits, bonuses, and incentive pay that South Carolina workers receive. It is an important indicator of labor market strength and can help policymakers understand trends in worker compensation.
Methodology
The data is collected through surveys of employers and households by the U.S. Bureau of Economic Analysis.
Historical Context
Analysts and policymakers use this metric to gauge the health of South Carolina's economy and labor market conditions.
Key Facts
- Other labor income accounts for about 20% of total compensation in South Carolina.
- The trend has grown by 4% annually over the past decade.
- Benefits and bonuses make up the largest share of other labor income.
FAQs
Q: What does this economic trend measure?
A: The 'Other Labor Income in South Carolina' metric tracks supplementary income sources for workers in the state beyond their base wages or salaries, such as employer-provided benefits, bonuses, and incentive pay.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides valuable insight into the overall economic well-being of South Carolina's labor force and can help policymakers understand trends in worker compensation.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to gauge the health of South Carolina's economy and labor market conditions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of several months.
Related Trends
Gross Domestic Product: Federal Civilian in South Carolina
SCGOVFEDCIVNGSP
All Employees: Federal Government in South Carolina
SMU45000009091000001A
Real Gross Domestic Product: Military in South Carolina
SCGOVFEDMILRGSP
Average Weekly Earnings of All Employees: Total Private in South Carolina
SMU45000000500000011
Real Gross Domestic Product: Transportation and Warehousing (48-49) in South Carolina
SCTRANSWARERGSP
Chain-Type Quantity Index for Real GDP: Funds, Trusts, and Other Financial Vehicles (525) in South Carolina
SCFNDTRSTQGSP
Citation
U.S. Federal Reserve, Other Labor Income in South Carolina (SCOOTH), retrieved from FRED.